The rising cell therapy production facilitates GMP certification approval is the primary factor driving the growth of the market. Also, the rising applications in the treatment of autoimmune diseases, cancers, infectious diseases, musculoskeletal disorders, and repairing of joint injuries, catalyze the adoption of the market product. Additionally, this offers personalized treatment, it tailors interventions based on the individual’s medical conditions and genetics. With the potential for long-term results, reduced decline risk, and faster recovery, cell therapy emerges as a revolutionary force in accurate medicine.
According to the report published by Markntel Advisors, “Global Regenerative Medicine Market Research Report: By Product (Cell Therapy, Gene Therapy, Tissue Engineering), By Application (Oncology, Musculoskeletal Disorders, Dermatology & Wound Care, Cardiovascular Diseases, Ophthalmology, Neurology, Others) and others Forecast (2024-30)”, The Global Regenerative Medicine Market size was valued at USD 32 Billion in 2023 and is projected to reach USD 112 Billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 18.5% during the forecast period, i.e., 2024-30.
Inclination towards Research and Development Reveals Market Growth
Rising market investments emphasize research and development, to enhance the customer’s experiences. This trend facilitates notable mergers and collaborations aimed at leveraging the mutual benefits of Rand D activities. Moreover, various government-funded research institutions are actively spending in this industry to introduce efficient decisions and opportunities for the treatment of various chronic diseases, such as cancer, diabetes, cardiovascular diseases, and others. This driving investment towards advancement and innovation accelerated the market growth in future perspectives.
Leading Segmentation Analysis based on Product and Therapeutic
The Global Regenerative Medicine market is segmented into four segments based on type, material type, and user type.
Based on Product, the market is segmented into Cell Therapy, Gene Therapy, and Tissue Engineering in 2024, the Call Therapy segment is expected to dominate the Global Regenerative Medicine Market
Based on Therapeutic Area the market is segmented into Oncology, Musculoskeletal Disorders, Dermatology & Wound Care, Cardiovascular Diseases, Ophthalmology, Neurology, and Others in 2024, The Oncology segment is expected to dominate the Global Regenerative Medicine Market
Major Market Players
Novartis AG, Biogen Inc., Amgen Inc., Sarepta Therapeutics Inc.,, Medipost Co. Ltd.,, Smith+Nephew, JCR Pharmaceuticals Co. Ltd, Takeda Pharmaceuticals, Corestem Inc., Vericell Corporation, Organogenesis Inc., are the major players in the market.
Market Developments and Achievements of Global Companies
2023: Sarepta and Catalent formed a commercial supply agreement for Catalent to manufacture delandistrigene moxeparvovec (SRP-9001) (ELEVIDYS), Sarpeta’s most advanced gene therapy candidate for the treatment of Duchenne Muscular Dystrophy (DMD).
2023: Bristol Myers Squibb was granted approval for ABECMA for patients with relapsed or refractory myeloma with at least 2 prior treatments, including specific medications in Japan.
North America to Register Lucrative Growth in Upcoming Year
North America to showcase lucrative growth in the regenerative medicine market. The highest growth is attributed to the presence of government and private funding for development, the availability of advanced tech frameworks to support the mounting detection of chronic diseases, and high healthcare spending in the region. Moreover, the growing acceptance of technological advancements in the field, rapid adoption of cells and gene therapy, and new product integration, led to augment the growth of the global regenerative medicine market.
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